Africa to press for more adaptation finance at COP31
African countries want the COP31 climate talks, now underway in Türkiye, to set out how the world will deliver on last year’s pledge to triple adaptation finance designed to help cope with the growing impact of extreme weather events.
- The African Group of Negotiators says addressing this issue is vital to a successful outcome in Antalya as support for the continent’s vulnerabilities has been “dwindling,” according to its chairperson.
- But even a tripling in financing will not close the gap: In 2024, the amount available for developing economies reached around $30 billion — that pales against the $305 billion the UN estimates they need annually to 2035.
- But these cannot be “entirely dependent on voluntary contributions,” Kenya’s climate envoy told Semafor.
Plans have been announced at COP31 to scale up successful adaptation projects and attract larger investments.
A large share of the money has previously come from aid budgets, which have fallen to their lowest level since 2014, and most wealthier countries have pledged little-to-no new climate finance from this year.
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